Qualifying Direct Deposits are defined as Recurring Automated Clearing House (ACH) credits, including payroll, pension, or government payments (such as Social Security) made by your employer or an outside agency. We may require documentation to verify that credits are Qualifying Direct Deposits. Qualifying Direct Deposits do not include peer-to-peer payments or ACH transfers (funds transfers) from your external accounts.
What is a Qualifying Direct Deposit?
Additional Money In FAQ
- How do I link an external account?
- What are the domestic wire instructions to send a wire to a LendingClub account?
- What is the incoming international wire process?
- Do I give LendingClub 100% of my paycheck?
- How can I set up a Direct Deposit?
- What are the restricted countries as it relates to payments?
- How do I manually verify an external account?
- How do I use the Mobile Deposit feature?
- What is a wire transfer and SWIFT code?
- When setting up Direct Deposit, what credentials should I use when connecting with my payroll provider?
- Can I set up Direct Deposit for more than 1 business checking account?
- How do I add more funds to my business checking account?
- Where can I deposit cash into my business checking account?
LendingClub Resources
Related Resource Center
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Related Impact
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LendingClub completed the acquisition of Radius Bank in February 2021. At that time, in addition to the direct-to-consumer deposit business, we inherited a fintech partner program, and several lending businesses. As we reach the one-year anniversary of the acquisition, and in conjunction with the conclusion of a strategic review of our business operations, we have made the decision to discontinue certain businesses that don’t fit our mission.
Related FAQ's
Please have your bank send a fed wire through their North American correspondent to:
You will use the email address and password for your payroll provider, NOT your Online banking credentials
Set up a direct deposit into your account, and you could be eligible to receive your money up to 2 days earlier.
Yes! You can split your pay into more than one account.
You can allocate a specific percentage or dollar amount to be direct deposited into your LendingClub account, anywhere from 1-100% of your paycheck.
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.